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Reckon acquires Espreon businesses 27 November 2008 Reckon acquires Espreon businessesReckon Limited, the supplier of QuickBooks and Quicken accounting and financial management software,today signed an agreement with Espreon Limited to acquire the company’s Corporate Services and Cost Recovery Businesses for $18 million. “We are pleased to have signed a definitive agreement with Espreon to acquire the Corporate Services and Cost Recovery businesses,” said Reckon Group CEO Clive Rabie. “We believe the acquisitions present exciting opportunities for Reckon and we anticipate that it will immediately become EPS accretive.”The share sales agreement originally commenced on the 23 September and it is expected the transaction will be finalised on 2 January 2009. Completion of the deal is conditional only on the anticipated release of security assets by Espreon’s debt facility provider. It is intended that Espreon’s Corporate Services will be integrated with Reckon’s Shelco division and the Cost Recovery Business with Reckon’s APS division. Rabie noted the acquisition now positions Reckon as one of Australia’s leading providers for documentation for company registrations plus SMSF, unit and family trust deeds as well as cost management solutions to the nation’s expanding professional services sector. About Espreon’s Corporate Services and Cost Recovery businesses The Corporate Services business is a provider of documentation for company formations, secretarial services, trusts, and self managed super fund trust deeds. This is a range of products and services similar to Reckon's Shelco business. The Cost Recovery (Bill Back) business is a provider of technologies for the capture, reporting, and billing of client expenses, including scanning, network printing and faxing, telephone and mobile phone calls, online searches, courier and taxi usage for professional services suppliers, such as accountants and lawyers. About Reckon Reckon Limited (RKN) is a publicly-listed Australian company, providing best of breed business management solutions for the Wealth Management, SOHO, SME and Accounting sectors. Reckon supplies QuickBooks and Quicken software and is the parent company of Elite, APS and Shelco. World headquarters are located at 35 Saunders Street, Pyrmont, NSW 2009 Australia. For more information, visit www.reckon.com.au or contact: View the Full Press Release
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